Common use of Date on Which Exercise is Effective Clause in Contracts

Date on Which Exercise is Effective. Each person in whose name any certificate for shares is issued upon the exercise of Rights shall for all purposes be deemed to have become the holder of record of the shares represented thereby on, and such certificate shall be dated, the date upon which the Rights Certificate evidencing such Rights was duly surrendered and payment of the Exercise Price for such Rights (and any applicable taxes and other governmental charges payable by the exercising holder hereunder) was made; PROVIDED, HOWEVER, that if the date of such surrender and payment is a date upon which the stock transfer books of the Company are closed, such person shall be deemed to have become the record holder of such shares on, and such certificate shall be dated, the next succeeding Business Day on which the stock transfer books of the Company are open.

Date on Which Exercise is Effective. Each person in whose name any certificate for shares of Preference Stock is issued upon the exercise of Rights shall for all purposes be deemed to have become the holder of record of the shares represented thereby on, and such certificate shall be dated, on the date upon which the Rights Certificate evidencing such Rights was duly surrendered and payment of the Exercise Purchase Price for such Rights shares of Preference Stock (and any applicable taxes and other governmental charges payable by the exercising holder hereunder) was made; PROVIDEDprovided, HOWEVERhowever, that if the date of such surrender and payment is a date upon which the stock transfer books of the Company are closed, such person shall be deemed to have become the record holder of such shares of Preference Stock on, and such certificate shall be dated, the next succeeding Business Day on which the stock transfer books of the Company are open.

Date on Which Exercise is Effective. Each person in whose name any certificate for shares of Preferred Stock is issued upon the exercise of Rights shall for all purposes be deemed to have become the holder of record of the shares represented thereby on, and such certificate shall be dated, on the date upon which the Rights Certificate evidencing such Rights was duly surrendered and payment of the Exercise Purchase Price for such Rights shares of Preferred Stock (and any applicable taxes and other governmental charges payable by the exercising holder hereunder) was made; PROVIDED, HOWEVERhowever, that if the date of such surrender and payment is a date upon which the stock transfer books of the Company are closed, such person shall be deemed to have become the record holder of such shares of Preferred Stock on, and such certificate shall be dated, the next succeeding Business Day on which the stock transfer books of the Company are open.

Date on Which Exercise is Effective. Each person in whose name any certificate certificates for shares is are issued upon the exercise of Rights shall for all purposes be deemed to have become the holder of record of the shares represented thereby on, and such certificate shall be dated, the date upon which the Rights Certificate evidencing such Rights was duly surrendered and payment of the Exercise Price for such Rights (and any applicable taxes and other governmental charges payable by the exercising holder hereunder) was made; PROVIDEDprovided, HOWEVERhowever, that if the date of such surrender and payment is a date upon which the stock transfer books of the Company are closed, such person shall be deemed to have become the record holder of such shares on, and such certificate shall be dated, the next succeeding Business Day on which the stock transfer books of -11- the Company are open.